Creating a project budget

Are you ready to track your time with Timeneye? Create your project and set your work up!

Stefania Rossi
Written by Stefania RossiLast update 2 months ago

In Timeneye, it is possible to set up an Hourly Budget for each project. The option is available in the Create new project dialog in the Budget field.

If the Budget section is not visible immediately, you must scroll the dialog window until it appears.

project budget

Enter the hourly budget for your projects, and then Save.

Recurring budgets

If you work with retainer contracts, you may need to allocate a fixed amount of hours to your clients periodically.

In the Budget recurrence field, you can set the budget to reset weekly or monthly:

  • If you select None, the budget will never reset. Instead, it will be just a one-time total budget for the whole project;

  • If you select Weekly, the budget will reset on a day of the week of your choice on a weekly basis;

  • If you select Monthly, the budget will reset on a date of the month of your choice.

If you select None, the budget will never reset. Instead, it will be just a one-time total budget for the whole project;

If you select Weekly, the budget will reset on a day of the week of your choice on a weekly basis;

If you select Monthly, the budget will reset on a date of the month of your choice.

Project Managers will receive a notification when a recurring budget reaches 80% or exceeds its planned hours.

In the Projects section of the account, you can see a bar with the progression of your budget as team members track time.

Veggie burgers project

Hourly Budgets for Phases, Users, and Tags

Within a project's total budget, it is possible to set specific budgets for Phases or even Users and Tags.

You can set up these budgets while editing your project.

In the Phase tab, you can set up the hourly budget for each phase. If the budgets you set up for your phases exceed the total you have set for the project, the system will notify you before saving. If you save it anyway, the total budget will be updated accordingly.

phase budget

Similarly, in the Users tab, you can set up the hourly budget for the team members who are part of the project. If the budgets you set up for your team members exceed the total you have set for the project, the system will notify you before saving. If you save it anyway, the total budget will be updated accordingly.

user phase

The same can be done for the Tags. If you want to make sure that the Tags' budget is mandatory, you can also configure this option in the same section:

tag budget

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